China is back at work after its Golden Week holiday, but carrier-blanked sailings have been “ineffective” at stopping the rapid decline in freight rates.
According to Linerlytica, the national holiday provided little respite for sliding freight and charter rates, with the SCFI and CCFI indices “set to resume their weekly declines” this week.
The analyst said: “Carriers are still unwilling to take out capacity in any serious way, while easing port congestion …
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